Will Crypto Market Hit the Vantage Prediction of $2300 Milli | Crypto Shake
Will Crypto Market Hit the Vantage Prediction of $2300 Million by 2028?
In early April 2022, Vantage released a report on their market research in the crypto space development. The report indicates that the crypto market could reach $2300 million by 2028. Vantage also highlighted that the crypto market growth in the past few years has been exponential. In 2018, the entire crypto space was valued at $828 billion, and now it's about $2 trillion. According to the research, as of the end of 2021, the crypto market made nearly $1542.9 million in revenue. Moreover, the study indicates that the compound annual growth rate of the crypto market is 6.9%. Vantages research shows very high hopes for the crypto market growth. But is the forecast realistic?
Is the Vantage Prediction Realistic
Sometimes forecasters could put very high values leading investors to doubt their reliability or whether the details are realistic. However, several factors indicate that Vantage's prediction is realistic in this case. The historical performance of the crypto market indicates that the crypto market will continue gaining year-round. Vantage highlighted various aspects which will drive the growth.
Growth in Software and Hardware Industries
One of the major factors to boost growth in the crypto market is the success of the crypto software and hardware industry. The crypto hardware industry has been a significant force in the crypto market's historical growth. Investors needed mining equipment and other tools like hardware wallets to invest in crypto. Vantage expects this hardware market to grow vastly. The software industry is also an immense force in the crypto market. All crypto networks are built on blockchain-based software. This software, including Dexes, staking pools, mining bots, and others, will continue increasing as the crypto market grows. The software will often need upgrades of features and improvements of services. Hence, the networks will often update the software to continue working efficiently with the increasing demand. The demand for updates and revenues generated in new and updated software will increase the crypto market size.
The Crypto Expected Regional Growth
The North American region is considered the biggest crypto hub at the moment. Based on the vantage research, North America will likely remain the biggest crypto hub over the next decade. Statistics show that North America has a 41% share of the global crypto space. The friendly crypto regulations are the main reason for the lead. However, other regions will be developing in the next decade. The Arab region is one of the exciting regions to watch in the next decade regarding crypto. Recently, the emirates region introduced crypto-friendly laws that have already attracted crypto users' interest. Africa is another area to watch in the coming decade. The adoption of crypto, especially bitcoin, in Africa is exciting. This global crypto growth, steered by several regions, will be another reason for the success of the crypto market. It makes the Vantage prediction seem pretty reachable.
